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10/03/2016 08:00 AST
Saudi Arabia's PetroRabigh said on Wednesday it would book around SR750 million ($200 million) in sales revenue this year with the full start-up of its expanded ethane cracker.
However, PetroRabigh said it would only use the expanded production capacity of the cracker on the supply of the ethane gas feedstock.
The joint venture of Saudi Aramco and Japan's Sumitomo Chemical said in a bourse statement it had completed the mechanical works for the cracker, part of the second phase of the expansion of the complex on the Red Sea coast of Saudi Arabia.
PetroRabigh reported a wider net loss in the fourth quarter due to maintenance work at the complex for much of the period.
PetroRabigh's earnings have been hit hard by falling product prices, like many petrochemical firms in the kingdom, as they are closely tied to slumping oil prices.
Saudi producers have also benefited from subsidised energy and feedstock costs, so lower crude prices compress their margins.
Trade Arabia
09/01/2018
Rabigh Refining and Petrochemical Company (Petro Rabigh) said that ten out of 12 units of its $7bn Rabigh phase II petrochemical expansion project in Saudi Arabia have entered into production.
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Energy Business Review
10/07/2017
Reference to the announcement of Rabigh Refining and Petrochemical Company (Petro Rabigh) on April 13, 2015, regarding the recommendation of the Board of Directors to increase the company's capital t
Tadawul
16/03/2017
King Abdullah Economic City (KAEC) and Petro Rabigh have recently announced the launch of the Saudi Sustainable Development Association.
The Association is an innovative, pioneering initia
Saudi Gazette
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
05/04/2018
SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.
Saudi Gazette
05/04/2018
Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating
Gulf Times
05/04/2018
Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told
The Peninsula
04/04/2018
Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o
The Peninsula
04/04/2018
Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than
Gulf News